Recommendations for Tax Attorney/Accountant for HNWIs

Tax and legal
1

Hello- US citizens here seeking personal recommendations for tax atty/accountant who has experience working with HNWIs. There’s so many nuances, conflicting information, etc. We need someone who can advise us and enable us to understand our tax liability consequences before we make the decision to apply for GV (it will be donation GV).

We are property owners in PT and have stayed under the 90/180 days. We do not have NHR because we could not meet minimal stay requirements. My husband is in a high valued profession and could possibly get NHR under new regime.

We appreciate any recommendations for a tax attorney/accountant. At this point we do not need recommendations for GV assistance since we first have to understand the tax ramifications. Thank you!

2

Sorry I cannot comment on the US tax matters, but what do you mean by minimum stay for NHR?

3

You must be a tax resident to maintain NHR, we cannot meet the minimal stay requirements to be tax residents.

to qualify and maintain NHR status, you must:

  1. Be a tax resident in Portugal — which usually means:
  • Spending more than 183 days in Portugal in any 12-month period, or
  • Having a habitual residence in Portugal on December 31 of that year (a home you intend to keep and live in as your main residence).1.
  1. Not have been taxed as a Portuguese tax resident in the previous 5 years.
4

Thanks for clarifying.
I think you are mostly correct, except “habitual residence” does not equate to “main residence”. And I thought you said you owned a property in PT, so in that case you did not have to qualify by any minimal stay.
But anyway it is a moot point by now as the NHR is no longer available for new applications.

5

We were told that since the apartment that we own in Portugal is not our primary residence that we would not qualify for NHR according to their definition of habitual residence. Our place in Portugal is our second home . We could potentially qualify under the new NHR regime since we are in a profession that would qualify us.

“habitual residence” in Portugal. This means having a permanent home available in Portugal and the intention to maintain and occupy it as their main residence.